NZDCAD heading for major breakout
NZDCAD currently testing the high of the ascending triangle and heading toward the 2014 high of 0.9640 a break above which could see substantial gains in this pair
We have fundamental support in the poorer data coming out of Canada against an increasingly positive story out of New Zealand as well as CAD's continued relationship with bearish oil prices.
0.9380 is the break short level for us and indicates a correction for moves down to 0.9000 - 0.9100 with possible extension if we see RBNZ once again flip flop on the rate path outlook.
We have fundamental support in the poorer data coming out of Canada against an increasingly positive story out of New Zealand as well as CAD's continued relationship with bearish oil prices.
0.9380 is the break short level for us and indicates a correction for moves down to 0.9000 - 0.9100 with possible extension if we see RBNZ once again flip flop on the rate path outlook.
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